PTC raises $125M in note deal

PTC Therapeutics Inc. (NASDAQ:PTCT) raised $125 million through the sale of convertible senior unsecured notes. The notes bear 3% interest, mature on Aug. 15, 2022, and convert initially at $56.34 per share.

The company began submitting a rolling NDA in 4Q14 for Translarna ataluren to treat nonsense mutation Duchenne muscular dystrophy (DMD). The small molecule that facilitates complete translation of proteins containing nonsense mutations has conditional approval in the EU for the indication. ...